Garrison Point Advisors LLC Lowers Stock Holdings in Bristol Myers Squibb Company $BMY

Garrison Point Advisors LLC reduced its holdings in Bristol Myers Squibb Company (NYSE:BMY) by 15.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 14,006 shares of the biopharmaceutical company’s stock after selling 2,525 shares during the quarter. Garrison Point Advisors LLC’s holdings in Bristol Myers Squibb were worth $648,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in BMY. Vanguard Group Inc. increased its stake in shares of Bristol Myers Squibb by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 191,403,004 shares of the biopharmaceutical company’s stock valued at $11,673,669,000 after acquiring an additional 1,458,488 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Bristol Myers Squibb by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 60,606,905 shares of the biopharmaceutical company’s stock valued at $3,696,415,000 after purchasing an additional 306,430 shares during the period. Northern Trust Corp increased its position in Bristol Myers Squibb by 5.3% during the first quarter. Northern Trust Corp now owns 25,974,504 shares of the biopharmaceutical company’s stock worth $1,584,185,000 after purchasing an additional 1,316,144 shares during the last quarter. Wellington Management Group LLP raised its stake in Bristol Myers Squibb by 297.0% during the first quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company’s stock worth $1,447,198,000 after purchasing an additional 17,750,938 shares during the period. Finally, Primecap Management Co. CA boosted its holdings in shares of Bristol Myers Squibb by 0.9% in the 1st quarter. Primecap Management Co. CA now owns 22,970,633 shares of the biopharmaceutical company’s stock valued at $1,400,979,000 after purchasing an additional 197,453 shares during the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $47.33, for a total value of $2,650,480.00. Following the transaction, the executive vice president owned 167,379 shares in the company, valued at $7,922,048.07. The trade was a 25.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.07% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

BMY has been the subject of a number of research analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of Bristol Myers Squibb in a report on Tuesday, October 14th. Morgan Stanley reissued a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Citigroup restated a “neutral” rating on shares of Bristol Myers Squibb in a research note on Monday, October 13th. Wall Street Zen raised Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Daiwa America downgraded shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $57.23.

Bristol Myers Squibb Stock Performance

Shares of NYSE:BMY opened at $46.74 on Friday. The business’s 50-day simple moving average is $45.25 and its 200 day simple moving average is $46.72. The company has a market cap of $95.14 billion, a P/E ratio of 18.85, a PEG ratio of 2.23 and a beta of 0.33. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. Bristol Myers Squibb Company has a one year low of $42.52 and a one year high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.11. The company had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.75 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. Bristol Myers Squibb’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the company earned $1.80 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. On average, sell-side analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 3rd were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $2.48 annualized dividend and a yield of 5.3%. Bristol Myers Squibb’s payout ratio is 83.78%.

About Bristol Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.